What is Metaverse?
In 1991, the first-ever website went live, and it looked like this. Not much was going on here—just a page with some text on it. A couple of years later, a video went live on another website (a boy talking in-camera with elephants in the background); fast forward a couple of years. You have Youtubers with a broader reach than the entire news Outlet Giants. Throughout history, technology made jumps that created entirely new industries and economies. Another jump is happening as you read this blog. It’s called the Metaverse, and it’ll change how everything works. Now how to make a profit from Metaverse?
Does Mark Zuckerberg control everything?
Ever since Mark Zuckerberg made the announcement, every news Outlet started to paint out this dystopian future. Where all of us are doomed to be mindless robots in a cog. A ready Player One meets The Matrix, where the Zuck controls everything. It’s a straightforward narrative to go with. And the one that gets the most clicks.
How is Metaverse helping other companies or organizations?
This blog isn’t about big companies trying to build the matrix. It’s about you understanding what’s happening and how you can profit from it, and the best way to understand this is to look at something of a smaller scale, the Multiverse. Have you watched the new Ariana Grande concert? No, not that one. This one.
They did a full production concert inside the game. Imagine telling someone a couple of years ago that in 2021. Ariana Grande will tour in Fortnight. It did, however, manage to create a unique experience where an entirely new level of interaction. Something Similar happened with Travis Scott last year, but this type of experience connects something from The Real World with something from the virtual world.
Something exciting is happening right now across all Industries at the same time. BMW announced their new car in Rocket League, and you have streaming companies like Netflix making video games. You have video game companies like Rowlett, Making Netflix shows. The result is a disruption of how we interact with both worlds. And what’s possible.
So, what exactly is the Metaverse? Saying what the Metaverse is now is like saying what the Internet was in the 90s. You Can Glimpse the future with nothing more than a modem, a phone line, the few dollars a month. There was no concept of social media, content creators, sharing platforms, trading platforms, platforms that make other platforms, and the list goes on. So, technically
What is Web 3.0 and how metaverse going to be helpful?
Metaverse whatever we build on it. It’s the crossroads of web 3.0, Blockchain, and virtual reality. It’s the combination of these three elements that make it possible. We need to look at the three parts individually, starting with web 3.0, which is the next version of the Internet. Yes. There are more versions of the Internet wherever 1.0, Like that website we showed you initially.
It’s just a page with many texts and some hyperlinks to more pages with more text. There is no interaction. No, user-generated content, nothing much but the text on a screen Web 2.0 is what we currently have. It’s community-based mainly. Most of it is user-generated content.
It is highly interactive, and you can do a bunch of stuff on it—one essential thing to mention here. There’s only one thing you can buy and own on the Internet. A single thing; It’s a domain name. Just like we own a tabootalks.in nobody in the world can make another website with the same domain name? Corporations own everything else.
For example, we made a blog here, but if Google wants to, they could poof, and it’s gone from the top to bottom, which leads us to web 3.0. The most important thing you can do on web 3.0 is own parts of the Internet. Everything that you make, buy or sell on the Internet is yours. And you have the full rights; this happens because of Blockchain and, more specifically, because of NFTs.
Why are celebrities and rich people buying distorted pics worth millions?
There is a foundation block, so the value in the Metaverse, you probably have an idea of what they are. The most disregards useless pixels on a screen for which some idiots are paying millions of dollars. What’s stopping me from doing our right Click saves of an NFT to my desktop? How is that valuable? Great question. To better understand how n ft’s work. Let’s talk about money or the story of money, or how money came to be.
What makes you think this piece of paper is worth $100. Who told you that? Why would someone trade goods for your piece of paper? Well, it’s because, over the years, we agreed that a dollar is worth a dollar, and we trust that it always does. It’s a social construct. It’s not even real, but it makes it easy to exchange stuff. So we all agree to use it. So the value of an NFT is how much those who embrace it decide that it’s worth.
It provides ownership because it can be tracked in the Blockchain. It cannot be copied. What’s failing to see is what NFTs can become in the future the same way websites transform over time. Compared to the first page with, let’s say, Google Maps, they’re both website Pages accessed from a specific length, yet the difference between them is astronomical.
There’s this excellent tweet that says, “Something like people say, NTFs are scams, but they post their original Creations on Instagram in exchange for a digital heart“. So you have this way of genuinely owning something and using it in the context of web 3.0. How? What would be a great way to interact with this virtual reality? Well, A virtual reality. This seems to be the only thing people talk about, even though it’s just part of the Metaverse until Holograms become a thing. This is the coolest thing we have right now.
It’s the natural, technological progression. So when someone says Facebook is building the Metaverse, it’s fundamentally wrong because they don’t own the Internet or the Blockchain or Virtual reality. It’s like saying Apple belt telecommunications when they launched the iPhone, and it doesn’t matter what they or Google or any other company are doing once Blockchain becomes mainstream. Individuals own the Internet.
And this is what most people can’t wrap their heads around. So here’s an example, imagine your Artists, you make one song and sell it for $1 as an NFT in your smart contract. You add that every time your song gets sold, you make 80%, with 20% going to the seller. Let’s say we buy your song for $1, and we sell it to someone else for one dollar. In this case, you, the artist, make one dollar from the initial sale.
Well and 80 cents from the second sale while we also make 20 cents, this can go on. And every time your song is sold, you automatically get 80% of it in your digital wallet. No Spotify involved, No apple music involved, No Label involved. Not only do they make a whole lot more money. Your community also makes money from your work. And this individual ownership is happening. Everything in the Metaverse works with this formula. That’s what the Metaverse is the rise of individual ownership.
How can you profit from Metaverse?
Do you need to become a native to this new land for you to see new opportunities? You need to understand how they’re created. And you do that by getting educated. Suppose you have no idea how this new thing works. You can quickly dismiss it as a dystopian nightmare. You’ll be left behind when reality, both natural and virtual, hit you.
The good news is we’re in the super early days. People are just starting to get educated in this space. There is still a lot of room for growth and a whole new pie to eat from. You can buy lands in video games from now on, for uneducated in this space will tell you it’s a scam, but because of Blockchain, it is like buying land here on earth. Imagine being a digital real estate investor in the next 10 years. Nike sells digital shoes and many more things. Make sure you have your ideas to sell or expand Metaverse. It will help you to make wealth from this tech.